Top section
Top section
Deal rules and slow primary market make ramping up deals difficult
◆ Supranationals and agencies prepare to achieve the previously unthinkable ◆ Leveraged loans versus private credit and their effect on CLOs ◆ A new dawn for dollar covered bonds and UK equity market structure
◆ Schaeffler attracts €5.8bn peak book… ◆ …while SPIE finds €2.8bn of orders ◆ Strong demand allows for strong price moves
More articles
More articles
More articles
-
Centre right members of the European Parliament have balked at approving a proposal to change the EU’s Taxonomy of Sustainable Economic Activities so it highlights unsustainable activities. Jon Hay reports. -
Lease accounting changes known as IFRS 16 are rolling out through capital markets, with companies keen to reassure investors that, despite the new way of presenting their balance sheets, little has changed. But that’s not true for every firm and for some high yield issuers, the change represents a big loosening in covenant terms.
-
Troubled French pipeline technology maker Vallourec unveiled a turnaround plan alongside its fourth quarter numbers on Wednesday evening, as well as an extension of its bank facilities that soothed some of the refi worries that have plagued the company.
-
Second lien loan structures are substituting in for unsecured high yield issues, as a strong bid from direct lending funds pushes prices for the product tighter. Despite wariness from many banks about the product, Goldman Sachs has been seen actively competing with private debt funds to offer second lien finance, adding to the product’s advantages for sponsors.
-
UK gambling software firm Playtech has raised its revolving credit facility to €272m, having agreed its first deal of that type since printing its debut bond in the last quarter of 2018.
-
Shriram Transport Finance Co raised $400m from first dollar bond on Wednesday, becoming the first Indian high yield borrower to tap the offshore market in just over a year.
Sub-sections
shared comment list
